CSE looks into 42 investor complaints
Sellahewa also noted that CSE places emphasis on investor confidence and the integrity of its markets and have responded effectively to irregularities identified in the course of its regulatory role.
“The secretariat of the CSE inquired into 42 investor complaints during the year relating to unauthorized transactions, extension of credit/force selling, and disputes pertaining to Margin Trading Agreements,” she said.
The secretariat of the CSE has taken decisions on 23 such complaints. A total of 16 cases were settled by the respective broker firm while three complaints were not proceeded with.
The CEO added that a total of 14 cases of suspected mal-practices (3 insider dealing, 3 front running and 8 price manipulations) were referred to the SEC in 2012 for further investigation and necessary actions.
“We continuously review and refine our set of rules in order to remain fair, transparent and market-oriented,” Sellahewa noted.
Operational requirements, trading practices and conduct, minimum standard for stockbroker firms, rules relating to clients’ money, supervisory rules and disciplinary action against stockbrokers were the new provisions included in the new stockbroker rules implemented with effect from February 14, 2012.
She further stated that the Automated Trading System (ATS) rules were amended to be in line with the implementation of the ATS version 7.10, applicable from February 24, 2012.